Rebuilding wealth lost during great recession

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(NNPA)—February, Black History Month, is usually a time when communities and organizations honor the achievements of our forefathers. But this year, the Center for Responsible Lending and key allies chose February to convene a symposium that addressed communities of color and consumer financial services. Co-convening organizations with CRL were the Joint Center for Political and Economic Studies and the National Consumers League.

Held Feb. 6 at the Washington-D.C. offices of the Joint Center, the day-long event brought together policymakers, lawmakers, civil rights leaders and consumer advocates to address predatory lending practices in mortgages, auto finance and more. Participants included U.S. Sen. Elizabeth Warren, D-Mass., U.S. Rep. Keith Ellison, D-Minn., Edith Ramirez, chairwoman of the Federal Trade Commission, and FTC Commissioner Mignon Clyburn.

“The wealth losses caused by the Great Recession will likely persist for years if not decades for many families,” observed Julia Gordon, a symposium presenter and Director of Housing Finance and Policy for the Center for American Progress.

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